M1 Countertrend Scalping Strategy | Page 460 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

EUR/USD, GBP/USD

Similar Threads

Trying scalping with a 1000 bucks - Scalping is expensive! 39 replies

strategy builder/tester for new scalping strategy 1 reply

1M & 5M Scalping System (Scalping Paradise) 21 replies

Reversals vs. CounterTrend Trade 28 replies

CounterTrend Trading 58 replies

Attachments: M1 Countertrend Scalping Strategy
Exit Attachments

M1 Countertrend Scalping Strategy

  • #9,181
  • Edited 12:25pm Aug 16, 2023 12:02pm | Edited 12:25pm
Just a test and trial extrem
so far for 9 days 312%
The percentage is calculated from the first balance of 10,000
unfortunately still likes to interfere with EA with manual orders
I use a simple mindset
step by step to get profit, after a lot of profit, step by step increase the risk and profit by risking the profit earned a few days before

trading scenario:
follow the signal, regardless of the indicator used ,waiting for trending, the Setting Lot always goes up every time the signal changes, until when the trending Lot used is large
if profit has been achieved, stop and continue tomorrow

what if sideways? maybe a lot of loss, but isn't it when it's trending that it also makes a lot of profit?
Each has its own risks and opportunities
This is just a personal opinion, don't copy it

see you again
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDmM15.png Size: 30 KB


Today
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 17 KB


illustration

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDmM151.png Size: 15 KB


if profit has been achieved, stop and continue tomorrow
  • #9,182
  • Aug 16, 2023 1:23pm Aug 16, 2023 1:23pm
Quoting Amiraven
{quote} That's impressive ! Is that 5 min time frame ? May I ask what the advantage of using RSI is ? Thank you
Hi thanks,

It works both on 1m or 5m timeframe. That chart is actually 1m. I tested using an indicator to show me the distance to moving averages of different time frames. I was not sure when to enter or exit the trade. I used RSI to see if it helps. RSI actually tells me how much distance from EMA is enough to enter the trade. Normally you can not guess how much distance is enough. So if the distance indicator and RSİ matches at around oversold or overbought I enter the trade. This EA is customized for my purposes and my own way of strategy. I see it works great and actually I mostly trade manually myself but it does a netter job than me sometimes
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDM5.png Size: 11 KB
  • #9,183
  • Aug 16, 2023 2:44pm Aug 16, 2023 2:44pm
Quoting niks
{quote}responsible risk and money management will take you a LONG way
Niks, do you hedge or just stop out as part of your risk/money management?

Because of FIFO, I can't hedge. So instead, when my averaging gets away from me, I stop out and then renter later with the same lot size that I had when I stopped out. (Same thing as hedging when you think about it.) I'll also stop and reverse occasionally, but this can be tricky. It makes the whole thing very fluid.

Just curious what methods you use. Thanks.
  • #9,184
  • Aug 16, 2023 3:33pm Aug 16, 2023 3:33pm
Quoting atnrvrdi
{quote} Hi thanks, It works both on 1m or 5m timeframe. That chart is actually 1m. I tested using an indicator to show me the distance to moving averages of different time frames. I was not sure when to enter or exit the trade. I used RSI to see if it helps. RSI actually tells me how much distance from EMA is enough to enter the trade. Normally you can not guess how much distance is enough. So if the distance indicator and RSİ matches at around oversold or overbought I enter the trade. This EA is customized for my purposes and my own way of...
Thanks for the explanation !
I haven't come this far to only come this far !
  • #9,185
  • Aug 16, 2023 7:22pm Aug 16, 2023 7:22pm
Setting up on AUDUSD:
Attached Image (click to enlarge)
Click to Enlarge Name: 2023-08-16 172040 AUDUSD setting up.png Size: 148 KB
  • #9,186
  • Aug 16, 2023 7:26pm Aug 16, 2023 7:26pm
Trackpad finger calibration... all knuckles nominal:
Attached Image (click to enlarge)
Click to Enlarge Name: 2023-08-16 172505_01 AUDUSD 1st buy entry 0.01001.png Size: 139 KB
  • #9,187
  • Aug 16, 2023 7:37pm Aug 16, 2023 7:37pm
Second buy entry to sweeten the pot (I always aim for 5 pips plus spread against me for 2nd entry):
Attached Image (click to enlarge)
Click to Enlarge Name: 2023-08-16 173119_02b AUDUSD 2nd buy entry 7.4 away from a.png Size: 146 KB
  • #9,188
  • Aug 16, 2023 8:40pm Aug 16, 2023 8:40pm
Anything can happen in forex! I had the buy window open at 0.01003 lots waiting for price to be 7 pips plus spread away from 2nd entry. Then there was thunder outside. I looked away for about 10 to 20 seconds. When I looked back I hit buy immediately. Got almost 18 pips away from second entry.
Attached Image (click to enlarge)
Click to Enlarge Name: 2023-08-16 183044_01c 3rd buy entry 0.01003 17.8 pips away from b.png Size: 147 KB




I mean, here's that 5 second chart. Look at that price dump:
Attached Image (click to enlarge)
Click to Enlarge Name: 2023-08-16 183402 seconds.png Size: 50 KB





Did nature give me a lesson to not get distracted even with thunder? LOL.
  • #9,189
  • Aug 16, 2023 9:00pm Aug 16, 2023 9:00pm
Quoting Donny3rd
Anything can happen in forex! I had the buy window open at 0.01003 lots waiting for price to be 7 pips plus spread away from 2nd entry. Then there was thunder outside. I looked away for about 10 to 20 seconds. When I looked back I hit buy immediately. Got almost 18 pips away from second entry. {image} I mean, here's that 5 second chart. Look at that price dump: {image} Did nature give me a lesson to not get distracted even with thunder? LOL.
It's actually VERY HARD to not get distracted, technology gave us all ADHD

The move looks huge, let's hope it's not the start of a long-term trend.
  • #9,190
  • Aug 16, 2023 9:00pm Aug 16, 2023 9:00pm
Quoting SurMoose
{quote} Niks, do you hedge or just stop out as part of your risk/money management? Because of FIFO, I can't hedge. So instead, when my averaging gets away from me, I stop out and then renter later with the same lot size that I had when I stopped out. (Same thing as hedging when you think about it.) I'll also stop and reverse occasionally, but this can be tricky. It makes the whole thing very fluid. Just curious what methods you use. Thanks.
you can see my response here surmoose - the most apt part of your statements are "It makes the whole thing very fluid", that is where you will find your success! keep it as simple as possible, only use one lot size, do NOT change lot sizes during a trade, my hedging is more like reversing while continuing to make profits without the stop to manage positions, best of luck to you!


Quoting Donny3rd
Anything can happen in forex!
hey donny, looks like you were affected by this unfortunately...
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 2 KB
every minute matters!
  • #9,191
  • Aug 16, 2023 9:38pm Aug 16, 2023 9:38pm
Quoting Donny3rd
Anything can happen in forex! I had the buy window open at 0.01003 lots waiting for price to be 7 pips plus spread away from 2nd entry. Then there was thunder outside. I looked away for about 10 to 20 seconds. When I looked back I hit buy immediately. Got almost 18 pips away from second entry. {image} I mean, here's that 5 second chart. Look at that price dump: {image} Did nature give me a lesson to not get distracted even with thunder? LOL.
always always keep your economic calendar open and visible!
We don't see things as they are - we see things as we are.
  • #9,192
  • Aug 16, 2023 9:49pm Aug 16, 2023 9:49pm
Quoting niks
{quote} hey donny, looks like you were affected by this unfortunately... {image}
Yeah, my news indi seems to have the wrong offset. Not too concerned. TPs have been set 5 pips past initial entry:
Attached Image (click to enlarge)
Click to Enlarge Name: 2023-08-16 194309_01abc tps current.png Size: 149 KB



It's about 8pm Arizona time. That's it for me. Good night/day/morning/evening everyone!
  • #9,193
  • Aug 17, 2023 12:11am Aug 17, 2023 12:11am
Quoting Donny3rd
{quote}Not too concerned. TPs have been set 5 pips past initial entry
you have plenty of experience by now! it should bounce back...

M1 EUR scalps - fluid market, fluid trade management!
Attached Image (click to enlarge)
Click to Enlarge Name: A622BC42-4A4D-4E76-8CEC-53DACA3F2F97.png Size: 135 KB
every minute matters!
  • #9,194
  • Aug 17, 2023 12:33am Aug 17, 2023 12:33am
M1 EUR countertrend scalp - trading without RULES will end your search for them and set you free!
Attached Image (click to enlarge)
Click to Enlarge Name: 2B4BF9EA-3F91-49B3-A621-F4A7020F57C2.png Size: 97 KB
every minute matters!
  • #9,195
  • Aug 17, 2023 1:00am Aug 17, 2023 1:00am
Quoting niks
M1 EUR countertrend scalp - trading without RULES will end your search for them and set you free! {image}
Trading without rules? it will deffinitely set you free from trading as you have blown your account. Anything without a rule is random. You can not randomly go to your destination by trying each bus to get there. You need to know where you go, where you must get on the bus and where to get off. Life itself is full of rules. May be you articulated this with wrong words. Because many people here trying to find their path to be a better trading can be easily affected from your words.

A wiser trader should use a wiser language to lead others.
Happy trading
  • #9,196
  • Aug 17, 2023 1:13am Aug 17, 2023 1:13am
Quoting Darwati
This is the indicator that I use, but I'm sorry there are restrictions on using a live account, if the profit is more than 50, the indicator will stop ,applies every day only for those who are trying to find another experience {file} {image}
How do you use this? I see shit load of color change. how does it calcualte profit? How do you exit?
https://prnt.sc/cPresWG_6r2e
  • #9,197
  • Aug 17, 2023 1:15am Aug 17, 2023 1:15am
Quoting atnrvrdi
{quote} Trading without rules? it will deffinitely set you free from trading as you have blown your account. Anything without a rule is random. You can not randomly go to your destination by trying each bus to get there. You need to know where you go, where you must get on the bus and where to get off. Life itself is full of rules. May be you articulated this with wrong words. Because many people here trying to find their path to be a better trading can be easily affected from your words. A wiser trader should use a wiser language to lead others....
perhaps you are correct about a misinterpretation of the wording, perhaps you have also not fully understood my trading style as well - however, no rules are followed when feeling the market - of course there are "guidelines", used as a guide - that's what this thread is about...

here are some not so wise words from a not so wise trader, so please do not follow it - i trade using gut instinct, i do not have an entry criteria, i do not have an exit criteria - i have a TRADE MANAGEMENT criteria, you have been warned! doing any of this without a RULES based risk, money and drawdown management PLAN will get you into trouble...
every minute matters!
  • #9,198
  • Aug 17, 2023 1:29am Aug 17, 2023 1:29am
I am not intended to follow any of your trading plan or ruleless trading. Instinct trading or feeling the market whatever you call it, keep up your good work hopefully. Trading is like an art or a knowledge that one must use himself with his own skills and understanding. It is not same for everybody to master things or do them in the same way. But there is a difference between reaction and response. Reaction is something you do without even thinking about result, response is an answering process to the things you percieve, understand, reason and answer. In this case I find no interesting case here to share my views. But I could not be silent to something wrongly put and may lead to mistake and even loss of money of others by following your feeling the market strategy

All the best in your career. I wish you good luck and more success in your life.
  • #9,199
  • Aug 17, 2023 1:44am Aug 17, 2023 1:44am
Quoting atnrvrdi
Reaction is something you do without even thinking about result... All the best in your career. I wish you good luck and more success in your life.
yes, i like to react rather than wait for a set of rules to line up, but not without thinking about the result!

thanks for your well wishes and same to you...
every minute matters!
  • #9,200
  • Aug 17, 2023 1:53am Aug 17, 2023 1:53am
quick question...

The indicator that show pip distance of the swings. What is that called?
23 traders viewing now